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- EUR/GBP trades with a slightly bearish bias on an intraday basis.
- The pair has broken 20-day MA support at 0.8584 on the hourly charts.
- We see scope for test of 1-hourly 50 MA at 0.8558. Violation there sees next major support at 0.8550 (trendline).
- EUR calendar remains absolutely data-quiet today, focus on German growth numbers due Friday for fresh momentum.
- Strong resistance seen at 0.8596. Bearish invalidation only on break above.
Recommendation: Good to sell rallies around 0.8580, Sl: 0.86, TP: 0.8550/ 0.8520
